Earnings release
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São Paulo, November 4 th , 2026 TOTVS S.A. (B3: TOTS3) announces its results for the Third Quarter of 2026 (3Q26). EARNINGS RELEASE 3Q26 VIDEO CONFERENCE - November 5 th , 2026 at 11:00 AM (BRT) Click here to register for the live transmission in Portuguese with simultaneous translation into English For more information, access ir.totvs.com This report contains forward-looking information. Such information is not merely historical facts but reflects the desires and expectations of TOTVS management. Words such as “anticipates,” “wishes,” “expects,” “foresees,” “intends,” “plans,” “predicts,” “projects,” “aims,” and similar expressions are intended to identify statements that necessarily involve known and unknown risks. Known risks include uncertainties that are not limited to the impact of price and product competitiveness, market acceptance of products, product transitions by the Company and its competitors, regulatory approval, currency and currency fluctuations, supply and production difficulties, and changes in product sales, among other risks. This report also contains certain pro forma information prepared by the Company solely for informational and reference purposes; therefore, such figures are unaudited. This report is current as of the present date, and TOTVS is under no obligation to update it based on new information and/or future events
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3 Message from the CEO Changing Tack For a long time now, we have made a practice of starting to prepare the CEO’s message well in advance. Interestingly, until the beginning of this year, the initial storyline would remain relatively intact all the way to the final version. The adjustments were merely a matter of wording. Well, in 2026 that changed dramatically. As early as the 4Q message, released in February, the first drafts spoke of the close of a wonderful 2025 and of the prospects for a 2026 of further growth and profitability gains, with the launch of LYNN, our AI foundation model, which positioned us for an enormous expansion of our addressable market. Instead, we had to address the birth of the recently departed SaaSpocalypse. The same happened in 1Q and 2Q. Now, in 3Q, the first draft was about being “ahead of the curve.” It began in 1955, when historian Cyril Parkinson wrote an essay for The Economist postulating that “work expands so as to fill the time available for its completion.” It went on to recall that, less well known, is its positive antithesis. That, under the “law,” if you give someone 30 days to paint a wall that takes two hours, that person will spend 30 days planning and complicating the task until the deadline is blown. In the execution of tasks, an abundance of time breeds waste. When we move from execution to complex decision-making, that is, to strategy, the dynamic is reversed. There, time should not be artificially compressed; all of the available time should be used. It posited that reading the landscape correctly makes it easier to pinpoint the real time available for a decision. That a worthy challenge is to find ways to increase the time available for strategic decision-making. That being “ahead of the curve” is the answer to that challenge. It also stressed that Universo TOTVS and Investor Day showed that we continue to anticipate trends, always a few steps ahead. That two years ago, AI adoption in the corporate world was still in its infancy. And that, although we believed that its pace of adoption would follow the framework whereby the more critical and integrated a task or process is, the slower the adoption of new technologies, we moved early, charting an AI vision that defined our role and the steps to be executed to make it a reality. It further pointed out that, as 2026 draws to a close, the level of AI adoption in companies has grown at an accelerated pace, although it remains incipient. That more than 50% of corporate consumption goes to coding, 20% to customer support, and the remainder is split between research/chatbots and database organization. Thus, AI consumption for tasks associated with management software is close to zero. And, therefore, the framework remains 100% valid. It said that, for TOTVS, being ahead of the curve has meant a series of achievements: we created the AI enablers, which have become the main locomotive of revenue growth, and we launched LYNN and IaaS and, in recent weeks, TaaS and CORTEN. That we had understood how much time was available to make our decisions and used every bit of it. We executed without waste. That, one by one, the pieces of the puzzle fell into place. Sustaining accelerated growth while increasing profitability. And that, as a consequence, the return is inexorable, all a matter of time, because the train has already left the station. This document is a TOTVS property. All rights reserved ©
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4 At the end of that draft, we changed the subject to the launch of the CORTEN management operating system, stating that it is a milestone in TOTVS’ long history. That CORTEN now becomes the centerpiece of TOTVS’ strategy, because ever since we created the 3 dimensions, we have believed that the barriers separating the different technology layers within companies would disappear, and that being a trusted advisor would require making this a reality. Of course, CORTEN is that convergence, seamless. A new category, created by TOTVS. One that only TOTVS has. But practically overnight, the market decreed that volatility had risen, confidence had fallen, and visibility had vanished. Even knowing that, as the title of an old sell-side report put it, TOTVS is an all-weather company (or should that be stock?), we once again found ourselves wondering whether we would seem to be living in Narnia if we did not shift the focus of the message to address the current backdrop. That is when we remembered that Corten (weathering steel) is three times more resistant to corrosion than ordinary steel, because it forms a protective layer that envelops it completely, without patches. And so, as fate would have it, the name could not have come at a better time: it represents precisely what TOTVS is made of. Our history shows that we have weathered macroeconomic turbulence better than any other company. And that we have always emerged even stronger than we went in. Dennis Herszkowicz - CEO This document is a TOTVS property. All rights reserved ©
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5 Consolidated Financial and Operating Highlights Consolidated Results (Pro forma) The tables below reflect the pro forma effect of the Linx combination across all reported periods and present figures already adjusted for non-recurring items to facilitate the analysis of the Cost and Expense lines. The reconciliation of the adjusted results to GAAP can be found in APPENDIX II and III . The Techfin Income Statement continues to be presented in the Techfin section, with its respective statements (condensed Balance Sheet and Cash Flow) available in APPENDIX VII . Consolidated Result 3Q26 3Q25 ∆ y/y 2Q26 ∆ q/q 9M26 9M25 ∆ y/y (in R$ million, except %) Net Revenue 1,977.8 1,746.7 13.2% 1,919.7 3.0% 5,786.6 5,115.2 13.1% Recurring Revenue 1,837.2 1,595.5 15.1% 1,781.3 3.1% 5,354.9 4,640.1 15.4% Non-Recurring Revenue 140.7 151.2 (7.0%) 138.4 1.6% 431.8 475.1 (9.1%) Costs (524.6) (457.4) 14.7% (514.8) 1.9% (1,539.1) (1,361.4) 13.1% Adjusted Gross Profit 1,453.2 1,289.3 12.7% 1,404.9 3.4% 4,247.6 3,753.9 13.2% Adjusted Gross Margin 73.5% 73.8% -30 bp 73.2% 30 bp 73.4% 73.4% 0 bp Adjusted Operating Expenses (952.3) (860.8) 10.6% (918.1) 3.7% (2,762.7) (2,521.5) 9.6% % Net Revenue 48.1% 49.3% -120 bp 47.8% 30 bp 47.7% 49.3% -160 bp Research and Development (361.6) (314.5) 15.0% (341.9) 5.7% (1,045.5) (906.6) 15.3% % Recurring Revenue 19.7% 19.7% 0 bp 19.2% 50 bp 19.5% 19.5% 0 bp Provision for Expected Credit Losses (35.6) (20.9) 70.6% (31.3) 13.7% (92.0) (58.4) 57.4% % Net Revenue 1.8% 1.2% 60 bp 1.6% 20 bp 1.6% 1.1% 50 bp Sales and Marketing Expenses (407.2) (377.9) 7.8% (397.8) 2.4% (1,210.8) (1,126.7) 7.5% % Net Revenue 20.6% 21.6% -100 bp 20.7% -10 bp 20.9% 22.0% -110 bp G&A Expenses and Others (147.8) (147.6) 0.1% (147.0) 0.5% (414.4) (429.8) (3.6%) % Net Revenue 7.5% 8.5% -100 bp 7.7% -20 bp 7.2% 8.4% -120 bp Adjusted EBITDA 500.9 428.5 16.9% 486.8 2.9% 1,484.9 1,232.4 20.5% Adjusted EBITDA Margin 25.3% 24.5% 80 bp 25.4% -10 bp 25.7% 24.1% 160 bp Financial and Operational Indicators (in R$ million, except %) % Recurring Revenue 92.9% 91.3% 160 bp 92.8% 10 bp 92.5% 90.7% 180 bp ARR 7,951.2 6,993.8 13.7% 7,742.3 2.7% n/a n/a n/a Retention Rate 97.3% 98.2% -90 bp 97.3% 0 bp n/a n/a n/a Recurring Revenue vs. ARR ⁽ ¹ ⁾ 93.7% 92.6% 110 bp 93.3% 40 bp n/a n/a n/a ⁽ ¹ ⁾ Ratio Rationale = Recurring Revenue / [ (Current Quarter ARR + Previous Quarter ARR) / 8 ] Annual Recurring Revenue (ARR) TOTVS' sales machine continues to deliver strong results, explained by high client satisfaction, an ever-expanding portfolio, lower TCO, and an increased commercial reach, among several other factors. One example of this performance is the AI enablers, which already account for 37% of Organic Addition. This document is a TOTVS property. All rights reserved ©
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6 All of this was on full display at Universo TOTVS 2026. Record attendance was the clearest demonstration of the strong demand for, and interest in, our solutions. Even though the event was held at a different time of year than usual (in October rather than June) and amid a cooler economic environment, attendance rose 10%, surpassing 22,000 people over the two days of the event. Beyond the numbers, Universo TOTVS 2026 marked the beginning of a new chapter for TOTVS, with accelerating cloud consumption (PaaS and IaaS) and the introduction of AI Agents via LYNN (the TaaS - Task as a Service - model), as well as CORTEN and AIaaS (AI as a Service). Net ARR Addition reached R$209 million this quarter. As expected, compared to 2Q26, we had the client Retention Rate stabilized after 2 quarters of fluctuation. The Price contribution remains stable, with a downward bias year over year. Compared to 3Q25, we did not have the R$16 million contribution from TIT (TOTVS Tax Intelligence), which translates into growth of more than 13% year over year once this effect is stripped out. Net Revenue Net Revenue reached R$2 billion in 3Q26, marking the 31 st consecutive quarter of double-digit organic growth, up 13% from 3Q25. For the first nine months of the year (9M26), Revenue totaled R$5.8 billion, a 13% jump over the same period of 2025. For the 22 nd consecutive quarter, Recurring Revenue grew organically by more than 15%, reaching 93% of the total. As we like to say, in this case, past performance is an excellent indicator of future performance. TOTVS remains ahead of the curve, and this is visible in the AI enablers. They sequentially accelerated y/y growth from 29% to 33%, accounting for 14.9% of Recurring Revenue, 50bps more than in the previous quarter. The main highlight was the 5p.p. acceleration in Cloud growth, which rose from 26% to 31% between 2Q26 and 3Q26. AI has become the main sales pitch for this offering: clients increasingly understand that migrating to T-Cloud is not merely an infrastructure upgrade, but the technology investment that propels their businesses. The universal adoption of TOTVS' proprietary cloud lays the essential data, security, and performance foundation that enables the adoption of LYNN and AI Agents. Non-Recurring Revenue totaled R$141 million, a 7% y/y decline. This dynamic is a strategic choice. By prioritizing Intera offerings (bundles of TOTVS solutions), the universal adoption of T-Cloud, and the use of AI, we are actively reducing implementation TCO. This efficiency frees up room in companies’ budgets for us to expand our share of wallet in higher value-added solutions, such as TaaS and the services orchestrated by the newly launched CORTEN. The combination of our double-digit Revenue expansion with a high-quality mix drove Adjusted Gross Profit to R$1.5 billion in the quarter, up 13% y/y, and Adjusted Gross Margin above 73%. This document is a TOTVS property. All rights reserved ©
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7 Operating Expenses In 3Q26, Operating Expenses represented 48.1% of Net Revenue, a 120bps decline y/y. To appreciate the magnitude of this reduction, it is important to provide the context in which it occurred, as well as some additional data on its composition. TOTVS is in its largest investment cycle in innovation and expansion of recent years. As is well known, we built the AI infrastructure, expanded T-Cloud, launched CORTEN, stepped up Sales and Marketing investments, increased the number of Vice-Presidencies, and maintained an accelerated pace of acquisitions of varying sizes, among various other strategic initiatives. At the same time, Brazil is going through one of the worst credit cycles in recent years, with clear repercussions on the economy and even on our own results, as we will show below in the section on the Provision for Expected Loss. Even so, TOTVS secured efficiency gains and, most importantly, preserved an expense mix aligned with strategic choices that deliver the present while building the future. This translated into: (i) Gains in G&A: significant cost reductions, driven especially by the integration of acquisitions; (ii) Progress in Sales and Marketing: acceleration of the hybrid model (field sales and digital/inbound), resulting in improved metrics for gross ARR addition per sales representative and pipeline conversion, among others; and (iii) Sustained R&D: preserving the relevance of investments. This efficiency gain was achieved even in the face of a 50bps (R$34 million) increase in the Provision for Expected Loss in 9M26. Provision for Expected Loss The Provision for Expected Loss represented 1.8% of Net Revenue in the quarter, 60bps above the 1.2% level recorded in 3Q25. Excluding Linx, this provision reached 1.7% of Net Revenue in 9M26, 70bps above 2025 and 60bps above the historical average of 1.1%. TOTVS adopts a conservative provisioning policy, that combines credit bureaus’ propensity-to-pay scores with internal loss history to set the provisioning percentages for each accounts receivable aging bucket, in addition to fully provisioning for companies undergoing judicial or extrajudicial reorganization proceedings. This means that, in a macroeconomic scenario in which the credit cycle is at a challenging stage and corporate delinquency is therefore higher across the board, we made a preemptive reinforcement of provisions, which now cover 12% of the Accounts Receivable balance, versus 8.9% in 3Q25. We believe this conservative stance creates a more favorable comparison base for future periods, should conditions normalize closer to the historical average. This document is a TOTVS property. All rights reserved ©
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8 Finally, the mission-critical nature of our solutions for running our clients’ day-to-day operations, combined with the high level of demand for our solutions demonstrated at Universo TOTVS, gives us confidence that the resilience of the Company’s business model remains fully intact. EBITDA TOTVS' Adjusted EBITDA reached a historic milestone in 3Q26, surpassing half a billion Reais in a single quarter, with solid 17% y/y growth. In 9M26, Adjusted EBITDA reached R$1.5 billion, a significant 20% jump over 9M25. Adjusted EBITDA Margin ended the quarter at 25.3%, an 80bps expansion versus 3Q25. Year to date, the progress is even more compelling, with the margin reaching 25.7%, 160bps above the same period of 2025. We note that this margin expansion is taking place amid one of the largest strategic investment cycles of recent years and against a challenging macroeconomic backdrop. Reaching this margin level reflects operating leverage, resulting from efficiency gains driven by disciplined cost and expense management and the optimization of internal processes, including through the use of AI. By leveraging these technologies and acting as the SMB’s trusted advisor, we have been able to optimize workflows and raise team productivity, ensuring the capacity to absorb the significant increase in transactions, data volumes, and new-client onboarding without expanding the expense base in the same proportion. We showcased some practical examples of this at our recent Investor Day, including: (i) handling an increase of more than 31% in the number of support tickets triggered by the tax reform with zero dedicated hires to meet the demand, with 20% of tickets contained by AI at first contact; (ii) a 46% reduction in the implementation time of certain ERPs; and (iii) productivity gains in development teams of 30% for the standard profile and 100% for the high-performance profile. Lastly, for informational purposes only, if the Company adopted the practice, common among U.S. - listed companies, of excluding the impact of the share-based incentive plan (stock-based compensation) from EBITDA, the 9M26 EBITDA Margin would be 180bps higher, reaching 27.5%. This document is a TOTVS property. All rights reserved ©
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9 Net Income Adjusted Net Income 3Q26 3Q25 ∆ y/y 2Q26 ∆ q/q 9M26 9M25 ∆ y/y Result (in R$ million, except %) Adjusted EBITDA 500.9 428.5 16.9% 486.8 2.9% 1,484.9 1,232.4 20.5% Depreciation and Amortization (86.7) (84.5) 2.6% (88.7) (2.2%) (263.5) (247.0) 6.7% Financial Result (124.9) (26.3) 375.3% (115.2) 8.4% (297.7) (73.5) 305.3% Income Tax and Social Contribution (52.0) (65.5) (20.6%) (40.7) 27.8% (173.3) (202.4) (14.4%) Adjusted Equity Pick-up - Techfin 50% (0.1) 8.0 (100.7%) (1.7) (96.7%) (1.7) 12.4 (113.9%) Adjusted Net Income 237.2 260.2 (8.8%) 240.6 (1.4%) 748.7 722.0 3.7% Adjusted Net Margin 12.0% 14.9% -290 bp 12.5% -50 bp 12.9% 14.1% -120 bp Financial and Operational Indicators (in R$ million, except %) NOPLAT ⁽ ¹ ⁾ 305.6 264.6 15.5% 316.7 (3.5%) 931.1 756.8 23.0% EPS (LTM) ⁽ ² ⁾ 1.83 1.65 10.9% 1.83 (0.4%) n/a n/a n/a ROIC (LTM) ⁽ ³ ⁾ 24.0% 19.1% 490 bp 26.8% -280 bp n/a n/a n/a ROE (LTM) ⁽ ⁴ ⁾ 26.5% 16.4% 1010 bp 27.1% -60 bp n/a n/a n/a ⁽ ¹ ⁾ NOPLAT = Adjusted Net Income - (Adjusted Financial Result x 66 %) ⁽ ² ⁾ EPS (LTM) = Adjusted Net Income (LTM) / (Total Outstanding Shares – Treasury Shares) ⁽ ³ ⁾ ROIC = (GAAP NOPLAT LTM) / [last 4 quarters average (Shareholders' Equity) - (Net Debt or Cash)]. The metric includes the gain on the sale of Dimensa starting in 2Q26. ⁽ ⁴ ⁾ ROE = (Consolidated Net Income LTM) / (last 4 quarters average Shareholders' Equity). The metric includes the gain on the sale of Dimensa starting in 2Q26. In 3Q26, Adjusted Net Income totaled R$237 million, down 8.8% y/y. The 290bps y/y compression in Adjusted Net Margin, which ended the period at 12.0%, is strictly associated with higher expenses in Financial Results, a consequence of the financial leverage tied to the debenture issuance to fund the Linx acquisition and of the resulting lower volume of invested Cash due to the execution of the share buyback programs. To date, these programs have created value for shareholders. Since 2024, we have repurchased more than 47.4 million shares at an average price of R$30.76. When non-operating effects are isolated, the operating leverage of our highly recurring business model becomes evident. NOPLAT, the metric that captures this operating profitability, jumped 15% y/y in 3Q26 and 23% in the nine-month period. This performance is the result of accelerated revenue expansion, coupled with solid cost discipline and internal efficiency gains, expanding structural value creation for shareholders. This document is a TOTVS property. All rights reserved ©
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10 Free Cash Flow Free Cash Flow 3Q26 3Q25 ∆ y/y 2Q26 ∆ q/q 9M26 9M25 ∆ y/y Result (in R$ million, except %) EBT 254.3 282.1 (9.9%) 227.3 11.8% 764.8 738.0 3.6% Non-Cash Items 368.6 208.8 76.6% 365.5 0.9% 1,045.1 595.3 75.6% Change in Working Capital (207.8) (81.3) 155.7% (86.4) 140.5% (406.2) (247.5) 64.1% Operating Cash Generation 415.0 409.5 1.3% 506.4 (18.0%) 1,403.6 1,085.8 29.3% (–) Income Tax and Social Contribution paid (36.2) (31.3) 15.7% (39.7) (8.9%) (127.2) (126.8) 0.3% (–) Invest. in Fixed and Intang. Assets (110.1) (49.5) 122.3% (84.8) 29.8% (331.5) (190.8) 73.8% (–) Payment of Principal of Lease Liabilities (18.9) (17.1) 10.6% (21.7) (12.8%) (53.3) (54.2) (1.6%) (–) Rev. from financial invest., net of Taxes (57.1) (55.1) 3.6% (65.6) (13.0%) (208.1) (142.6) 46.0% Free Cash Flow to Firm (FCFF) 192.8 256.6 (24.9%) 294.6 (34.6%) 683.5 571.4 19.6% Financial and Operational Indicators Op. Cash Generation / Adjusted EBITDA 82.9% 95.6% -1270 bp 104.0% -2110 bp 94.5% 88.1% 640 bp Free Cash Flow / Adjusted Net Income 81.3% 98.6% -1730 bp 122.4% -4110 bp 91.3% 79.1% 1220 bp FCFF LTM Margin 13.2% 12.5% 70 bp 14.5% -130 bp n/a n/a n/a The 25% y/y decline in Free Cash Flow to the Firm (FCFF) primarily reflects one-off upfront disbursements related to cloud contracts totaling R$92 million, of which R$59 million was allocated to Change in Working Capital (Other Assets) and R$33 million to Intangible Assets (CAPEX). These investments translate into significant competitive differentiators for the Company by securing more favorable contractual terms. This ability to pay in advance underscores TOTVS' scale and financial strength, establishing a clear edge over smaller players that lack the same balance-sheet muscle or pace of installed-base expansion, particularly in a global context marked by an increasingly constrained supply of compute capacity. In addition, the remainder of the change reflects the payment of R$33 million related to social security and labor obligations, as well as marginal variations in the average collection period. Despite this one-off softening in the quarter, 9M26 FCFF maintains a solid growth trajectory of 20% versus the same period of the prior year. Due to the effects on Change in Working Capital and CAPEX in the period, the Operating Cash Generation to Adjusted EBITDA ratio ended the quarter at 82.9%. On a 9M26 basis, this metric improved significantly, by 640bps versus 9M25, reaching 94.5%. The Free Cash Flow to Adjusted Net Income conversion rate ended the quarter at 81.3%, while the last-twelve-months (LTM) FCFF Margin showed strong resilience, advancing 70bps versus 3Q25 to close the period at 13.2%. This document is a TOTVS property. All rights reserved ©
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11 Gross and Net Debt In R$ million 3Q26 3Q25 ∆ y/y 2Q26 ∆ q/q Debentures (4,550.5) (1,516.7) 200.0% (4,743.1) (4.1%) Obligations Related to Acquisitions, Net (60.9) (18.0) 238.3% (66.3) (8.1%) Total Gross Debt (4,611.5) (1,534.7) 200.5% (4,809.5) (4.1%) (+) Cash and Cash Equivalents 1,508.8 1,594.6 (5.4%) 2,020.2 (25.3%) Net (Debt) Cash (3,102.7) 59.8 <(999%) (2,789.3) 11.2% xNet Debt / EBITDA (LTM) 1.6 (0.0) <(999%) 1.5 7.1% In 3Q26, the 25% q/q decrease in the Cash and Cash Equivalents balance, which ended the period at R$1.5 billion, as well as the 11% q/q increase in Net Debt, reflect the execution of the share buyback program, the payment of Interest on Equity (IoE), and the payment of debenture interest in the quarter. Through TOTVS' 7 th debenture issuance, completed in 3Q26 in the total amount of R$1.5 billion, with maturity extended to September 2, 2033, and bearing interest at 100% of CDI plus a spread of 0.59% per annum, the Company prepaid the 5th issuance debentures of the same total amount, which bore interest at 100% of CDI but with a spread of 0.95% per annum. As a result, the Company lowers its financial costs and lengthens the maturity profile of its gross debt, as shown in the chart above. This document is a TOTVS property. All rights reserved ©
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12 Techfin The table presented below represents 100% of Techfin’s results in the respective periods. The reconciliation of Techfin’s Adjusted Profit, the Balance Sheet, the Cash Flow, and the Credit Rights by maturity are set out in APPENDIX VII. 3Q26 3Q25 ∆ y/y 2Q26 ∆ q/q 9M26 9M25 ∆ y/y Result (in R$ million, except %) Revenue - Net of funding 115.1 119.8 (3.9%) 103.5 11.2% 317.0 292.0 8.6% Net Revenue 164.8 167.7 (1.7%) 152.2 8.3% 462.2 422.9 9.3% Funding Cost (49.8) (48.0) 3.8% (48.8) 2.1% (145.2) (130.9) 10.9% Provision for Expected Credit Losses (30.9) (16.5) 87.2% (26.7) 15.7% (81.0) (40.6) 99.8% OPEX (82.7) (77.6) 6.5% (81.7) 1.2% (236.5) (210.9) 12.2% Techfin Adjusted EBITDA 1.4 25.6 (94.4%) (5.0) (129.1%) (0.5) 40.6 (101.3%) % Techfin Adjusted EBITDA 1.3% 21.4% -2010 bp -4.8% 610 bp -0.2% 13.9% -1410 bp Below EBITDA (1.6) (9.6) (83.7%) 1.6 (194.5%) (2.9) (15.8) (81.6%) Adjusted Net Income (Loss) from Techfin (0.1) 16.1 (100.7%) (3.3) (96.7%) (3.4) 24.8 (113.9%) % Net Income (Loss) from Techfin -0.1% 13.4% -1350 bp -3.2% 310 bp -1.1% 8.5% -960 bp Financial and Operational Indicators (in R$ million, except%) Credit products Credit Production 3,464.9 3,393.9 2.1% 3,441.6 0.7% 10,171.1 9,840.7 3.4% Average Term of Credit Production (days) 65.1 67.1 (3.0%) 61.9 5.2% n/a n/a - Credit Portfolio, Net 2,632.1 2,476.0 6.3% 2,756.8 (4.5%) n/a n/a - Average Term of On Due Portfolio (days) 66.3 63.6 4.3% 69.4 (4.4%) n/a n/a - Credit Operation Cash Position 163.1 276.2 (41.0%) 212.7 (23.3%) n/a n/a n/a Fee Products TPV - Techfin Pix 3,046.5 2,385.3 27.7% 2,837.0 7.4% 8,636.8 6,604.4 30.8% Revenue Net of Funding and Operating Efficiency Techfin’s Credit Production totaled R$3.5 billion in 3Q26, up 2.1% y/y even amid a more adverse scenario for the credit market and, consequently, the adoption of a more conservative stance in credit underwriting. In line with its historical risk management stance, Techfin preemptively adjusts its credit models and limits to prioritize portfolio quality, even if this temporarily weighs on short-term growth. Average Term of Credit Production reached 65.1 days (+5.2% q/q). The model review led to a reduction of the Agribusiness portfolio and shortened the average tenor of credit production compared to 3Q25 (-3% y/y), resulting in a 3.9% y/y decrease in Revenue Net of Funding. This document is a TOTVS property. All rights reserved ©
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13 Provision for Expected Credit Losses In 3Q26, Techfin’s Provision for Expected Credit Losses increased 87% y/y and 16% q/q, driven by the “aging” of the past-due portfolio, i.e., the prolonged delinquency of receivables originated in prior periods. This increase expanded the Overdue Coverage Ratio from 39.2% in 3Q25 to 52.1% in 3Q26, as shown in Appendix VII . As noted in the previous quarter, the most recently originated cohorts are converging toward historical delinquency patterns. A clear indicator of this is that the 1–30 day overdue bucket in the receivables aging decreased 35% q/q, which, coupled with the higher provision coverage ratio, mitigates the risk of provision growth outpacing originated portfolio growth. Even against this credit backdrop, Techfin’s 90+ day delinquency ratio closed the period at 2.9%, a level substantially below the Brazilian market average in 3Q26, as illustrated in the adjacent chart. EBITDA and Adjusted Net Income Discipline in managing Operating Expenses translated into contained growth of 6.5% y/y in this line item, enabled by the synergies of the technology architecture and internal automation. This efficiency made it possible to fully absorb the increase in the Provision for Expected Credit Losses in the period. As a result, Adjusted EBITDA totaled R$1.4 million and Adjusted Net Income reached break-even in the quarter. Continuing to invest and launch products, even in adverse scenarios, demonstrates that Techfin holds advantages that are hard for traditional financial players to replicate. A case in point is the launch of Conta+, which serves as a dynamic hub - natively integrated and embedded within the TOTVS ERP - enabling Techfin to establish its primacy in the financial relationship with the SMB client. The strength of this ecosystem is already visible in our transactional offering: Pix Techfin TPV reached an all-time high of R$3 billion in 3Q26, a significant 28% year-over-year jump. This document is a TOTVS property. All rights reserved ©
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14 APPENDIX I (Pro forma) Consolidated Income Statement The Consolidated results presented below combine Linx's results for periods prior to the closing of its acquisition. The reconciliation with the 9M26 Interim Financial Statements (ITR) is available in APPENDIX II of this document. In R$ million 3Q26 3Q25 ∆ y/y 2Q26 ∆ q/q 9M26 9M25 ∆ y/y Net Revenue 1,977.8 1,746.7 13.2% 1,919.7 3.0% 5,786.6 5,115.2 13.1% Operating Costs (526.8) (457.6) 15.1% (515.3) 2.2% (1,541.8) (1,364.2) 13.0% Gross Profit 1,451.0 1,289.1 12.6% 1,404.4 3.3% 4,244.8 3,751.0 13.2% Operating Expenses (1,092.4) (967.0) 13.0% (1,048.7) 4.2% (3,166.9) (2,853.5) 11.0% Research and Development (361.9) (314.6) 15.0% (343.0) 5.5% (1,046.9) (907.9) 15.3% Sales and Marketing Expenses (411.7) (378.1) 8.9% (398.6) 3.3% (1,216.1) (1,127.8) 7.8% Provision for Expected Credit Losses (35.6) (20.9) 70.6% (31.3) 13.7% (92.0) (58.4) 57.4% General and Administrative Expenses (149.3) (145.7) 2.5% (151.4) (1.4%) (430.5) (421.4) 2.2% Provision for Contingencies (10.4) (8.8) 18.3% (5.3) 96.4% (25.2) (24.5) 3.1% Depreciation and Amortization (134.1) (103.0) 30.2% (126.8) 5.7% (376.1) (303.6) 23.9% Other Net Revenues (Expenses) 10.5 4.0 164.9% 7.7 36.9% 19.9 (10.0) (298.2%) EBIT 358.5 322.1 11.3% 355.7 0.8% 1,077.9 897.4 20.1% Financial Result (103.6) (15.9) 553.3% (126.1) (17.8%) (297.3) (83.6) 255.6% Equity Pickup (0.7) 7.4 (109.2%) (2.3) (70.2%) (3.6) 10.5 (134.2%) Earnings Before Taxes (EBT) 254.3 313.6 (18.9%) 227.3 11.8% 777.0 824.4 (5.7%) Income Tax and Social Contribution (40.4) (55.6) (27.4%) (22.6) 78.9% (124.7) (163.0) (23.5%) Net Income (Loss) from Discontinued Operations 24.0 22.5 6.2% 483.7 (95.0%) 515.9 55.8 823.8% Consolidated Net Income 237.9 280.6 (15.2%) 688.5 (65.5%) 1,168.2 717.2 62.9% Non-Controlling Net Income - (8.2) (100.0%) - - (3.2) (20.6) (84.5%) GAAP Net Income 237.9 272.3 (12.7%) 688.5 (65.5%) 1,165.1 696.7 67.2% Net Margin 12.0% 15.6% -360 bp 35.9% -2390 bp 20.1% 13.6% 650 bp This document is a TOTVS property. All rights reserved ©
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15 APPENDIX II Reconciliation of the Consolidated Income Statement 3Q26 9M26 GAAP Income Statement ⁽ ¹ ⁾ Deprec. and Amort. Reclass. ⁽ ² ⁾ Consolidated Result GAAP Income Statement ⁽ ¹ ⁾ Deprec. and Amort. Reclass. ⁽ ² ⁾ Linx Jan+Feb Consolidated Result In R$ million (a) (b) (a+b+c) (a) (b) (c) (a+b+c) Net Revenue 1,977.8 - 1,977.8 5,594.6 (0.0) 192.1 5,786.6 Costs (568.2) 41.3 (526.8) (1,605.1) 120.6 (57.3) (1,541.8) Gross Profit 1,409.6 41.3 1,451.0 3,989.5 120.6 134.8 4,244.8 Gross Margin 71.3% 73.4% 71.3% 70.2% 73.4% Operating Expenses (Revenues) (1,051.1) (41.3) (1,092.4) (2,923.7) (120.6) (122.7) (3,166.9) Research and Development (371.9) 10.0 (361.9) (1,028.4) 35.6 (54.1) (1,046.9) Sales and Marketing Expenses (422.5) 10.8 (411.7) (1,194.5) 36.8 (58.4) (1,216.1) General and Administrative Expenses (231.6) 71.9 (159.7) (632.6) 170.9 5.9 (455.8) Depreciation and Amortization - (134.1) (134.1) - (363.8) (12.3) (376.1) Provision for Expected Credit Losses (35.6) - (35.6) (90.1) - (1.9) (92.0) Other Net Revenues (Expenses) 10.5 - 10.5 21.9 - (2.0) 19.9 EBIT 358.5 - 358.5 1,065.8 - 12.1 1,077.9 Financial Revenues 75.2 - 75.2 242.5 - 1.3 243.8 Financial Expenses (178.8) - (178.8) (539.9) - (1.1) (541.0) Equity Pickup (0.7) - (0.7) (3.6) - - (3.6) Earnings Before Taxes (EBT) 254.3 - 254.3 764.8 - 12.3 777.0 Income Tax and Social Contribution (40.4) - (40.4) (122.3) - (2.4) (124.7) Net Income (Loss) from Discont. Op. 24.0 - 24.0 515.9 - - 515.9 Consolidated Net Income 237.9 - 237.9 1,158.4 - 9.8 1,168.2 Non-Controlling Net Income - - - (3.2) - - (3.2) GAAP Net Income 237.9 - 237.9 1,155.2 - 9.8 1,165.1 Net Margin 12.0% 12.0% 20.6% 20.1% ⁽ ¹ ⁾ The quarterly financial information of the Techfin operation is presented at 50% in the line "Equity Pickup" ⁽ ² ⁾ As established in IAS-1, expenses with depreciation and amortization were reclassified to cost and expense lines associated with the respective assets that originated them This document is a TOTVS property. All rights reserved ©
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16 APPENDIX III (Pro forma) EBITDA and Net Income Reconciliation (CVM Resolution 156/22) In R$ million 3Q26 3Q25 ∆ y/y 2Q26 ∆ q/q 9M26 9M25 ∆ y/y Consolidated Net Income 237.9 280.6 (15.2%) 688.5 (65.5%) 1,168.2 717.2 62.9% (–) Net Income (Loss) RJ and Dimensa 24.0 22.5 6.2% 483.7 (95.0%) 515.9 55.8 823.8% (+) Depreciation and Amortization 134.1 103.0 30.2% 126.8 5.7% 376.1 303.6 23.9% (–) Financial Results (103.6) (15.9) 553.3% (126.1) (17.8%) (297.3) (83.6) 255.6% (+) Income Tax and Social Contribution 40.4 55.6 (27.4%) 22.6 78.9% 124.7 163.0 (23.5%) EBITDA GAAP 491.9 432.5 13.7% 480.2 2.4% 1,450.4 1,211.5 19.7% (–) Equity Pickup (0.7) 7.4 (109.2%) (2.3) (70.2%) (3.6) 10.5 (134.2%) (+) Extraordinary Items 8.3 3.4 144.9% 4.3 91.0% 30.9 31.4 (1.7%) M&A Adjustment at Fair Value 2.0 - - (3.0) (166.8%) (1.0) 16.1 (106.3%) Adjustment from Oper. Restructuring 8.2 0.6 >999% - - 8.1 6.4 25.7% Performance LTI program Payroll taxes - - - 3.5 (100.0%) 3.5 - - Expenses with M&A Transactions 2.6 2.8 (7.5%) 3.9 (33.2%) 24.9 4.7 432.3% Loss (Gain) with Disposed Assets (4.5) - - - - (4.5) 4.2 (208.5%) Adjusted EBITDA 500.9 428.5 16.9% 486.8 2.9% 1,484.9 1,232.4 20.5% Adjusted Net Income Reconciliation In R$ million 3Q26 3Q25 ∆ y/y 2Q26 ∆ q/q 9M26 9M25 ∆ y/y GAAP Net Income 237.9 272.3 (12.7%) 688.5 (65.5%) 1,165.1 696.7 67.2% Preferred Techfin Dividends - (17.7) (100.0%) - - - (17.7) (100.0%) Discont. Op. Adjustment - RJ and Dimensa (24.0) (14.3) 67.3% (483.7) (95.0%) (512.7) (35.3) >999% Net Extraordinary Items ⁽ ¹ ⁾ (8.4) 2.3 (469.7%) 2.9 (392.1%) 6.5 20.6 (68.4%) PVA of Call Option, Net ⁽ ² ⁾ - 4.8 (100.0%) 7.2 (100.0%) 13.7 18.5 (25.9%) Net Effect of Amort. of Acquisitions' Intangibles ⁽ ³ ⁾ 31.7 12.8 147.0% 25.8 22.9% 76.0 39.2 93.9% Adjusted Net Income 237.2 260.2 (8.8%) 240.6 (1.4%) 748.7 722.0 3.7% Adjusted Net Margin ⁽ ⁴ ⁾ 12.0% 14.9% -290 bp 12.5% -50 bp 12.9% 14.1% -120 bp ⁽ ¹ ⁾ Extraordinary items Net of Income Tax from: (i) EBITDA GAAP; (ii) Tax Credit arising from the constitution of Deferred Income Tax of RD Station; (iii) the Financial Result; and (iv) Techfin Result (50%) ⁽ ² ⁾ Present Value Adjustment Finance Expense arising from the Call Option to purchase non-controlling interests, as per the partnership agreement with B3 for the Dimensa operation ⁽ ³ ⁾ Amortization of intangibles arising from acquisitions, except goodwill, Net of Income taxes ⁽ ³ ⁾ Adjusted Net Income as % of the Revenue net of Funding Cost, considering the Techfin's Results revenue at 50% in all periods Depreciation and Amortization Reconciliation In R$ million 3Q26 3Q25 ∆ y/y 2Q26 ∆ q/q 9M26 9M25 ∆ y/y Depreciation (56.7) (49.3) 15.2% (52.1) 8.9% (157.9) (141.6) 11.5% Amortization (30.0) (35.2) (14.9%) (36.6) (18.0%) (105.6) (105.3) 0.2% Adjusted Depreciation and Amortization (86.7) (84.5) 2.6% (88.7) (2.2%) (263.5) (247.0) 6.7% Intangibles Amortization from Acquisitions (47.1) (18.5) 154.5% (38.1) 23.5% (112.4) (56.6) 98.6% Loss (Gain) with Disposed Assets (0.3) - - - - (0.3) - - Depreciation and Amortization (134.1) (103.0) 30.2% (126.8) 5.7% (376.1) (303.6) 23.9% This document is a TOTVS property. All rights reserved ©
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17 Financial Result Reconciliation In R$ million 3Q26 3Q25 ∆ y/y 2Q26 ∆ q/q 9M26 9M25 ∆ y/y Financial Revenues 66.1 61.4 7.8% 72.7 (9.1%) 234.6 167.3 40.2% Financial Expenses (191.0) (87.6) 117.9% (187.9) 1.6% (532.4) (240.8) 121.1% Adjusted Financial Result (124.9) (26.3) 375.3% (115.2) 8.4% (297.7) (73.5) 305.3% PVA of Call Option - Dimensa - (7.3) (100.0%) (10.9) (100.0%) (20.8) (28.1) (25.9%) Preferred Techfin Dividends - 17.7 (100.0%) - - - 17.7 (100.0%) Extraordinary PVA - Earn-outs - (0.0) (100.0%) - - - 0.2 (100.0%) Mark-to-Market CVC Idexo 21.3 - - - - 21.3 - - Financial Result (103.6) (15.9) 553.3% (126.1) (17.8%) (297.3) (83.6) 255.6% Adjusted Income Tax Reconciliation In R$ million 3Q26 3Q25 ∆ y/y 2Q26 ∆ q/q 9M26 9M25 ∆ y/y EBT 254.3 313.6 (18.9%) 227.3 11.8% 777.0 824.4 (5.7%) (-) Equity Pickup - Techfin (0.7) 7.4 (109.2%) (2.3) (70.2%) (3.6) 10.5 (134.2%) EBT (excl. Techfin) 254.9 306.2 (16.7%) 229.6 11.0% 780.6 813.8 (4.1%) Taxes at nominal rate (34%) (86.7) (104.1) (16.7%) (78.1) 11.0% (265.4) (276.7) (4.1%) Law 11,196/05 - R&D Incentive 12.7 13.4 (5.7%) 14.0 (9.7%) 32.6 29.7 9.9% Interest on Equity 28.7 30.0 (4.3%) 35.3 (18.7%) 99.6 87.8 13.4% Effect of Different Taxation in Subsidiaries (4.6) (1.6) 195.7% (1.7) 167.6% (9.2) (6.3) 47.7% Management Bonus (0.9) (1.0) (12.3%) (1.2) (27.6%) (3.2) (3.2) 0.0% Workers' Meal Program 0.5 1.3 (58.6%) 0.8 (34.3%) 2.0 2.6 (23.9%) Gener. of tax loss and neg. bases - 0,7 (1,0) - - - 2,0 (1,0) Other 9.9 5.6 75.9% 8.3 19.4% 19.0 1.1 >999% Income Tax and Social Contribution (40.4) (55.6) (27.4%) (22.6) 78.9% (124.7) (163.0) (23.5%) Current Income Tax and Social Contribution (19.7) (46.8) (57.9%) 11.3 (273.9%) (51.2) (143.3) (64.3%) Deferred Income Tax and Social Contribution (20.6) (8.8) 135.6% (33.9) (39.1%) (73.5) (19.7) 272.4% % Total Effective Tax Rate 15.8% 18.2% -240 bp 9.8% 600 bp 16.0% 20.0% -400 bp Extraordinary Items Income Tax Adjustment (34%) (11.7) (9.9) 17.7% (18.2) (35.6%) (48.6) (39.4) 23.5% Extraordinary Items - EBITDA (2.8) (1.2) 144.9% (1.5) 91.0% (10.5) (10.7) (1.7%) Extraordinary Items - Depreciation and Amortization (16.1) (6.3) 155.9% (13.0) 24.1% (38.3) (19.2) 99.0% Extraordinary Items - Financial Result 7.2 (2.5) (389.7%) (3.7) (294.8%) 0.2 (9.5) (101.6%) Adjusted Income Tax and Social Contribution (52.0) (65.5) (20.6%) (40.7) 27.8% (173.3) (202.4) (14.4%) % Adjusted Effective Tax Rate 20.4% 21.4% -100 bp 17.7% 270 bp 22.2% 24.9% -270 bp This document is a TOTVS property. All rights reserved ©
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18 APPENDIX IV Cash Flow In R$ million 3Q26 3Q25 ∆ y/y 2Q26 ∆ q/q 9M26 9M25 ∆ y/y EBT 254.3 282.1 (9.9%) 227.3 11.8% 764.8 738.0 3.6% Non-Cash Items 368.6 208.8 76.6% 365.5 0.9% 1,045.1 595.3 75.6% Depreciation and Amortization 134.1 88.9 50.9% 126.8 5.7% 363.8 256.5 41.9% Share-based Compensation 29.8 28.9 3.2% 18.7 59.4% 76.0 55.6 36.9% Loss (Gain) with Disposed Assets (1.3) (1.1) 28.0% 0.7 (282.3%) (1.0) 2.9 (135.5%) Provision for Expected Credit Losses 35.6 13.9 156.8% 31.3 13.7% 90.1 41.6 116.4% Equity Pickup 0.7 (7.4) (109.2%) 2.3 (70.2%) 3.6 (10.5) (134.2%) Prov. for Contingencies, Net of Reversals 12.4 13.7 (9.0%) 5.3 136.2% 27.3 29.3 (6.9%) Provision (Reversal) for Other Obligations 2.0 - - (3.0) (166.8%) (1.0) 15.3 (106.6%) Interest and Monet./FX variations, net 155.3 71.9 115.9% 183.4 (15.3%) 486.3 204.5 137.7% Change in Working Capital (207.8) (81.3) 155.7% (86.4) 140.5% (406.2) (247.5) 64.1% Trade Receivables (68.0) (19.5) 248.8% (83.5) (18.5%) (229.0) (151.7) 50.9% Recoverable Taxes (26.7) 2.0 <(999%) (9.1) 194.3% (83.9) (41.6) 101.6% Judicial Deposits (2.5) 0.2 <(999%) (0.3) 795.7% (5.6) (3.6) 54.1% Other Assets (64.6) (44.5) 45.1% (74.4) (13.1%) (133.8) (174.2) (23.2%) Labor Liabilities (32.6) 4.5 (821.0%) 113.7 (128.7%) 74.4 127.0 (41.4%) Trade and Other Payables (13.1) (14.7) (10.9%) (5.2) 149.3% 17.1 (1.9) <(999%) Commissions Payable (2.5) 5.2 (147.5%) 16.1 (115.4%) 16.3 0.4 >999% Taxes and Contributions Payable 12.0 (14.2) (184.6%) (7.3) (263.6%) (14.0) 13.3 (204.8%) Other Accounts Payable (9.8) (0.2) >999% (36.4) (73.1%) (47.8) (15.2) 213.5% Operating Cash Generation 415.0 409.5 1.3% 506.4 (18.0%) 1,403.6 1,085.8 29.3% Interest paid (360.3) (110.1) 227.4% (5.3) >999% (486.8) (192.5) 152.9% Tax Paid (36.2) (31.3) 15.7% (39.7) (8.9%) (127.2) (126.8) 0.3% Net Cash from Operating Activities 18.6 268.2 (93.1%) 461.4 (96.0%) 789.6 766.4 3.0% Acquisitions of Prop. Plant and Equip. (32.6) (29.2) 11.8% (59.5) (45.2%) (190.0) (122.6) 54.9% Acquisition of Intangible Assets (79.1) (22.6) 250.7% (26.6) 197.7% (145.9) (72.9) 100.1% Franchises Loan 0.6 2.1 (71.4%) 0.6 0.5% 1.8 8.4 (78.2%) Dividends Received - 15.6 (100.0%) - - - 15.6 (100.0%) Acquisition of Subsidiaries, Net of Cash 12.2 (194.2) (106.3%) - - (3,171.0) (194.2) >999% Payments from Acquisitions of Subsidiaries (10.4) 189.9 (105.5%) (685.8) (98.5%) (700.6) 75.8 <(999%) Proceeds from Sale of Subsid., Net of Cash - 7.0 (100.0%) - - - 21.3 (100.0%) Proceeds from Sale of Prop. Plant and Equip. 1.6 2.2 (26.4%) 1.3 25.3% 4.3 4.7 (8.4%) CVC Fund Investments (22.5) (23.3) (3.7%) (2.5) 801.8% (58.7) (47.4) 23.8% Cash generated from (used in) RJ e Dimensa 40.2 2.4 >999% 1,311.2 (96.9%) 1,354.0 3.0 >999% Net Cash used in Investing Act. (90.0) (50.0) 79.9% 538.6 (116.7%) (2,905.9) (308.4) 842.2% Payment of Princ. of Loans and Financing - - - - - (10.2) - - Payment of Principal of Lease Liabilities (18.9) (17.1) 10.6% (21.7) (12.8%) (53.3) (54.2) (1.6%) Proceeds from debentures, loans and finan. 1,495.8 - - (0.1) <(999%) 4,487.2 - - Payment of Principal of Debentures (1,500.0) - - - - (1,500.0) - - Dividends and Interest on Equity Paid (88.7) (88.0) 0.8% (119.5) (25.7%) (208.2) (170.0) 22.5% Net Treasury Shares (328.1) - - (271.5) 20.9% (876.1) - - Net Cash gen. by (used in) Financ. Act. (440.0) (105.1) 318.5% (412.7) 6.6% 1,839.3 (224.1) (920.7%) Incr. (Dec.) in Cash and Cash Eq. (511.4) 113.0 (552.4%) 587.4 (187.1%) (276.9) 233.9 (218.4%) Cash and Equiv. Beginning of the Period 2,020.2 1,481.5 36.4% 1,432.8 41.0% 1,785.7 1,360.7 31.2% Cash and Equiv. End of the Period 1,508.8 1,594.6 (5.4%) 2,020.2 (25.3%) 1,508.8 1,594.6 (5.4%) This document is a TOTVS property. All rights reserved ©
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19 APPENDIX V Balance Sheet In R$ million 3Q26 3Q25 ∆ y/y 2Q26 ∆ q/q ASSETS Current Assets 3,093.2 3,145.2 (1.7%) 3,473.3 (10.9%) Cash and Cash Equivalents 1,508.8 2,005.7 (24.8%) 2,020.2 (25.3%) Trade Receivables 1,041.7 736.1 41.5% 982.2 6.1% Provision for Expected Credit Losses (130.0) (67.5) 92.7% (103.0) 26.2% Recoverable Taxes 131.7 77.1 70.8% 109.4 20.4% Escrow Account 49.2 46.1 6.8% 48.2 1.9% Other Assets 443.3 289.9 52.9% 364.2 21.7% Discont. Operations Assets 48.6 57.8 (15.9%) 52.1 (6.7%) Non-current Assets 9,511.6 6,074.6 56.6% 9,521.0 (0.1%) Long-term assets 1,277.4 858.9 48.7% 1,225.7 4.2% Trade Receivables 38.8 17.9 116.6% 38.8 (0.1%) Receivables from Related Parties 3.9 4.7 (17.3%) 3.9 0.2% Deferred Tax Assets 316.6 243.4 30.0% 314.3 0.7% Judicial Deposits 37.8 28.4 33.2% 35.2 7.5% Investments at Fair Value 304.3 213.1 42.8% 261.1 16.5% Escrow Account 115.3 192.7 (40.2%) 114.6 0.7% Other Assets 460.7 158.6 190.5% 457.8 0.6% Investments 287.2 314.4 (8.7%) 287.3 (0.0%) Property, Plant and Equipment 679.3 456.7 48.7% 694.2 (2.1%) Intangible 7,267.7 4,444.6 63.5% 7,313.7 (0.6%) TOTAL ASSETS 12,604.9 9,219.9 36.7% 12,994.3 (3.0%) LIABILITIES Current Liabilities 1,623.0 1,339.7 21.1% 1,887.3 (14.0%) Labor Liabilities 668.5 544.7 22.7% 671.1 (0.4%) Trade and Other Payables 297.6 209.4 42.1% 370.0 (19.6%) Taxes and Contributions Liabilities 165.6 134.5 23.1% 152.4 8.6% Debentures 81.3 40.7 99.7% 270.3 (69.9%) Lease Liabilities 64.0 70.7 (9.4%) 57.5 11.2% Dividends Payable 86.4 89.6 (3.6%) 90.6 (4.7%) Accounts Payable from Acq. of Subsid. 82.7 73.9 12.0% 87.5 (5.4%) Commissions Payable 93.3 69.8 33.7% 95.8 (2.6%) Other Liabilities 79.3 96.7 (18.0%) 87.9 (9.8%) Discont. Operations Liabilities 4.4 9.8 (54.8%) 4.1 7.1% Non-current Liabilities 5,669.2 2,473.1 129.2% 5,649.1 0.4% Lease Liabilities 211.9 92.4 129.4% 226.4 (6.4%) Debentures 4,469.3 1,476.0 202.8% 4,472.8 (0.1%) Accounts Payable from Acq. of Subsid. 142.8 242.7 (41.2%) 141.7 0.8% Deferred Income Taxes 346.6 27.1 >999% 325.2 6.6% Provision for Contingencies 146.9 108.1 35.8% 148.5 (1.1%) Call Option of Non-controlling Interests - 472.9 (100.0%) - - Other Liabilities 351.7 53.9 552.2% 334.5 5.2% Shareholders' Equity 5,312.7 5,407.1 (1.7%) 5,457.9 (2.7%) Share Capital 2,962.6 2,962.6 0.0% 2,962.6 0.0% Treasury Shares (516.7) (305.1) 69.4% (783.5) (34.1%) Capital Reserves (303.1) 280.8 (208.0%) 264.0 (214.8%) Profit Reserve 3,111.3 2,083.8 49.3% 2,957.9 5.2% Carrying Value Adjustments 58.7 55.3 6.1% 57.0 3.0% Non-controlling Interest - 329.7 (100.0%) - - TOTAL LIABILITIES AND EQUITY 12,604.9 9,219.9 36.7% 12,994.3 (3.0%) This document is a TOTVS property. All rights reserved ©
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20 APPENDIX VI Amortization Aging of Acquisition Intangibles (Management + RD Station) In R$ million 3Q26 Up to 12 months 173.5 from 13 to 24 months 168.4 from 25 to 36 months 157.4 from 37 to 48 months 149.8 over 48 months 866.5 Total 1,515.6 Amortization Aging of Acquisition Intangibles (Techfin 100%) In R$ million 3Q26 Up to 12 months 7.1 from 13 to 24 months 6.6 from 25 to 36 months 6.6 from 37 to 48 months 6.6 over 48 months 15.3 Total 42.1 Amortization of Acquisition Goodwill The acquisition goodwill represents the difference between the amount paid for acquiring a company and the fair value of its net assets. In Brazil, the amortization of this goodwill can generate a significant tax benefit, allowing the amortized amount to be deducted from the Corporate Income Tax (IR) and Social Contribution (CSLL) on Net Income tax bases, thereby reducing the acquiring Company’s tax burden. The goodwill related to acquisitions is not amortized for accounting purposes. As shown in the table below, total goodwill amounted to R$5.3 billion in 3Q26, of which R$1.7 billion has already been amortized for IR/CSLL tax purposes. Acquisition Goodwill (R$ million) 3Q26 Total 5,287.3 Difference between the accounting and tax basis of goodwill 128.4 Used as a benefit until 09/30 (1,709.4) Balance to be used 3,706.4 Balance of non-merged companies 3,218.2 Incorporated balance to be used 488.2 Up to 12 months (199.0) From 13 to 24 months (138.0) From 25 to 36 months (128.7) Over 36 months (22.5) This document is a TOTVS property. All rights reserved ©
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21 APPENDIX VII Adjusted Net Income Reconciliation Techfin (100%) In R$ million 3Q26 3Q25 ∆ y/y 2Q26 ∆ q/q 9M26 9M25 ∆ y/y Adjusted Net Income (Loss) from Techfin (0.1) 16.1 (100.7%) (3.3) (96.7%) (3.4) 24.8 (113.9%) Net Effect of Amortization (1.2) (1.2) 0.0% (1.2) 0.0% (3.7) (3.7) 0.0% Net Income (Loss) from Techfin (1.4) 14.8 (109.2%) (4.6) (70.3%) (7.2) 21.1 (134.1%) Other Results ⁽ ¹ ⁾ (0.7) 7.4 (109.2%) (2.3) (70.3%) (3.6) 10.5 (134.1%) Equity Pickup - TOTVS (0.7) 7.4 (109.2%) (2.3) (70.2%) (3.6) 10.5 (134.2%) ⁽ ¹ ⁾ Result allocated to partner shareholders + Net Result from Techfin before the JV with Itaú Cash Flow Techfin (100%) In R$ million 3Q26 3Q25 ∆ y/y 2Q26 ∆ q/q 9M26 9M25 ∆ y/y EBT 0.4 25.4 (98.5%) (6.4) (105.8%) (3.4) 38.8 (108.8%) Non-Cash Items (125.4) 53.7 (333.3%) (51.7) 142.7% (125.9) 161.0 (178.2%) Change in Working Capital 73.4 238.4 (69.2%) 49.8 47.4% (117.0) (28.8) 305.7% Operating Cash Generation (51.6) 317.5 (116.3%) (8.3) 525.7% (246.3) 170.9 (244.1%) Interest paid (0.1) (0.0) 100.0% (0.0) 333.3% (0.1) (0.1) (16.8%) Income Tax and Social Cont. paid (0.0) - - - - (0.3) (1.3) (78.4%) Net Cash from Operating Activities (51.7) 317.5 (116.3%) (8.3) 525.4% (246.7) 169.5 (245.5%) Fixed Assets (0.0) (0.2) (81.5%) (0.0) 0.0% (0.8) (0.5) 55.6% Intangibles (7.8) (0.2) >999% (7.4) 5.3% (22.5) (0.6) >999% Financial Rescues (Invest.) 65.2 (128.6) (150.7%) (38.5) (269.2%) 216.0 (95.9) (325.2%) Net Cash used in Investing Act. 57.4 (129.0) (144.5%) (45.9) (224.9%) 192.7 (97.0) (298.7%) Increase (Decrease) Gross Debt (11.1) (74.1) (85.0%) (6.5) 70.1% (99.0) (142.8) (30.7%) Payment of Principal of Lease Liabilities (0.4) (0.5) (22.1%) (0.4) 0.0% (1.2) (1.7) (28.5%) Red. (Inv.) of Senior Quotas 1.9 (131.5) (101.5%) 73.2 (97.4%) 59.2 (30.7) (292.7%) Net Cash gen. by (used in) Financ. Act. (9.6) (221.7) (95.7%) 66.2 (114.5%) (41.0) (190.9) (78.5%) Incr. (Dec.) in Cash and Cash Equivalent (4.0) (33.3) (88.1%) 12.0 (132.9%) (95.0) (118.4) (19.8%) Cash and Equiv. Beginning of the Period 149.8 177.3 (15.5%) 137.7 8.7% 240.8 262.4 (8.2%) Cash and Equiv. End of the Period 145.8 144.0 1.3% 149.8 (2.6%) 145.8 144.0 1.3% Revenue from financial invest., net of Taxes 1.5 1.1 33.0% 1.9 (23.3%) 6.6 8.5 (22.1%) Free Cash Flow to Firm ⁽ ¹ ⁾ (61.3) 315.5 (119.4%) (18.0) 241.0% (277.7) 158.4 (275.3%) ⁽ ¹ ⁾ Operating Cash Generation (–) Income Tax and Social Cont. paid (–) Investing in Fixed Assets and Intangibles (–) Payment of Principal of Lease Liabilities (–) Short-term investment yield This document is a TOTVS property. All rights reserved ©
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22 Balance Sheet Techfin (100%) In R$ million 3Q26 3Q25 ∆ y/y 2Q26 ∆ q/q ASSETS Current Assets 2,869.1 2,839.2 1.1% 3,059.1 (6.2%) Cash and Cash Equivalents 145.8 144.0 1.3% 149.8 (2.6%) Financial Investments 51.2 163.3 (68.7%) 111.2 (54.0%) Trade Receivables 2,632.1 2,475.5 6.3% 2,758.7 (4.6%) Other Assets 40.1 56.5 (29.0%) 39.5 1.5% Non-current Assets 214.0 199.0 7.5% 211.4 1.2% Long-term assets 24.5 25.8 (4.9%) 27.0 (9.1%) Property, Plant and Equipment 4.2 5.0 (15.6%) 4.8 (13.0%) Intangible 185.3 168.3 10.1% 179.6 3.1% TOTAL ASSETS 3,083.1 3,038.3 1.5% 3,270.5 (5.7%) LIABILITIES Current Liabilities 2,491.3 2,395.7 4.0% 2,679.4 (7.0%) Loans and Financing 29.7 75.9 (60.9%) 36.4 (18.5%) Business Partners Payable 968.0 847.2 14.3% 1,164.2 (16.9%) Senior and Mezzanine Quotas 1,261.0 1,210.4 4.2% 1,259.6 0.1% Other Liabilities 232.6 262.2 (11.3%) 219.3 6.1% Non-current Liabilities 17.4 13.7 27.0% 16.5 5.8% Loans and Financing - 0.8 (100.0%) - - Other Liabilities 17.4 12.9 34.8% 16.5 5.8% Shareholders' Equity 574.3 628.8 (8.7%) 574.6 (0.0%) TOTAL LIABILITIES AND EQUITY 3,083.1 3,038.3 1.5% 3,270.5 (5.7%) Techfin's Credit Rights by Maturity (100%) In R$ million 3Q26 3Q25 ∆ y/y 2Q26 ∆ q/q On Due 2,553.3 2,398.5 6.5% 2,653.9 (3.8%) Notes overdue Up to 30 days 51.4 43.7 17.5% 79.3 (35.2%) from 31 to 60 days 18.1 12.5 44.5% 12.0 50.6% from 61 to 90 days 15.2 14.5 5.5% 12.6 20.5% from 91 to 180 days 32.6 35.2 (7.4%) 32.0 2.0% from 181 to 360 days 47.0 21.5 118.9% 38.5 22.0% over 360 days 13.8 153.6 (91.0%) 9.0 53.5% Gross Trade Receivables 2,731.5 2,679.5 1.9% 2,837.4 (3.7%) Provision for Expected Credit Losses (99.4) (203.6) (51.2%) (80.6) 23.3% Total 2,632.1 2,476.0 6.3% 2,756.8 (4.5%) Overdue Coverage Ratio ⁽ ¹ ⁾ 52.1% 39.2% 1290 bp 41.0% 1110 bp ⁽ ¹ ⁾ Expected Credit Loss Allowance balance net of Overdue Receivables Over 360 Days divided by Overdue Receivables Up to 360 Days This document is a TOTVS property. All rights reserved ©
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23 APPENDIX VIII SHAREHOLDING COMPOSITION TOTVS ended 3Q26 with share capital of approximately R$3 billion, comprising 579,401,581 common shares, of which 2.9% remained in treasury during the period. The free float stands at 87.8%, with the following breakdown: This document is a TOTVS property. All rights reserved ©
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24 GLOSSARY [A] ● Adjusted Net Income: is a non-accounting measure that represents Net Income without the net effects of the respective impacts of income tax and social contribution from: (i) extraordinary expenses; (ii) financial expenses for adjustment to present value arising from the option to purchase a non-controlling interest, as provided for in the partnership agreement of Dimensa's operation with B3; (iii) extraordinary impacts on financial expenses for adjustment to present value arising from earn-outs adjustments; and (iv) the portion of Income attributed to Dimensa's non-controlling shareholders. ● ADTV: Average Daily Trading Volume of shares. ● AIaaS Artificial Intelligence as a Service): A model for delivering and consuming cloud-based AI capacity as a service, used to access, build, and consume AI models and agents in a simplified and secure manner, with cost predictability. ● ARR (Annual Recurring Revenue): It denotes the annualized recurring revenue generated from recurring agreements. It is an important indicator of the company's revenue predictability. [C] ● CAC: (Customer Acquisition Cost): it is an indicator that reveals the average expenditure a company incurs in acquiring a new customer. It is calculated by dividing the total marketing and sales investment by the number of customers acquired within a specific timeframe. ● Corporate Model: under this payment model for management software, customers receive unlimited access to contracted systems. Annual agreement fees are adjusted in the first quarter based on customer performance in the previous year, as determined by updated contractual metrics like gross revenue. The updated fees have an impact on both License Revenue and Recurring Revenues. With Licenses, the increase reflects only customers who expanded their business year after year, increasing to a higher range in the price list, while with Recurring Revenue the impact is the net balance between customers who “went up” and those who “went down” in the price list. ● CORTEN: TOTVS’ Management Operating System, which unifies the application ecosystem, cloud infrastructure, and tasks automated by LYNN’s AI agents and models. [D] ● Digital/inbound model: a commercial strategy grounded in attracting prospective clients through content marketing, automation, and digital channels, in which qualification and closing occur remotely and at scale. ● DCF (Discounted Cash Flow): a financial valuation methodology used to estimate the value of a company or project based on projections of its future cash flows, discounted to present value using a discount rate. This document is a TOTVS property. All rights reserved ©
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25 [E] ● Earn-out: it is a portion corresponding to the payment of the part of the acquisition price of a company, usually tied to performance and to certain targets of the acquired company. ● EBITDA: acronym of Earnings Before Interest, Income Tax (IRPJ) and Social Contribution on Earnings, Depreciation and Amortization. It is a non-accounting measurement prepared by the Company that comprises net income for the year or period, excluding the effects of revenues and financial expenses, of income Tax and of social contribution and of costs and expenses from depreciation and amortization. ● eNPS (Employee Net Promoter Score): it comprises an employee engagement index. It measures how likely employees are to recommend the company as a good place to work. ● EV (Enterprise Value): a metric representing a company's total market value, calculated as the sum of the market value of its equity (Market Cap) and its net debt, reflecting the theoretical cost of acquiring the business in full. [F] ● FIDC (Credit Rights Investment Fund): it is a type of investment fund that pools funds from multiple investors to purchase credit rights, that is, the FIDC buys debts from companies or individuals and divides them into smaller portions that are sold to investors. ● Field sales/outbound model: a commercial structure in which sales executives carry out direct prospecting and in-person meetings with prospective clients. ● Free-float: the quantity of shares of a publicly held company in free circulation in the market, available for trading by investors in general, excluding shares held by controlling shareholders, officers, and shares in treasury. [G] ● Global Report Initiative (GRI): is a multi-stakeholder organization that sets global sustainability reporting standards developed with input from different stakeholders and focused on the public interest. ● GMV (Gross Merchandise Volume): It represents the overall number of goods and services sold on its marketplace during a specific timeframe. It is a metric adopted to estimate the size of one's platform, but not its health. ● Gross Volume ARR Addition: ARR growth composed of the price adjustments and inflation-indexed corrections applied to existing contracts, representing the financial appreciation of the existing client base, with no change in the scope or quantity of contracted solutions. [I] ● IBOV (Bovespa Index): it is the most important indicator of the average performance of stock prices traded on B3 - Brasil, Bolsa, Balcão. ● IBrX-50 (Brazil 50 Index): an indicator of the average price performance of the 50 most tradable and representative assets of the Brazilian stock market. This document is a TOTVS property. All rights reserved ©
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26 ● ICP (Ideal Customer Profile): a detailed description of the type of institutional client that derives the greatest value from the solutions offered and that, consequently, generates the best financial return, higher retention, and lower acquisition cost for the company. ● IGP-M (General Market Price Index): a comprehensive Brazilian inflation index that measures the variation of prices at different stages of production, from raw materials to finished goods. This can be compared to the American indicators PPI (Producer Price Index) and PCE (Personal Consumption Expenditures), which monitor not just retail prices but also intermediate product prices and company production costs. It is widely used to update contracts fees, such as rentals, and to index investments. ● IGV (iShares Expanded Tech-Software Sector ETF): an exchange-traded fund listed in the U.S. market that tracks the performance of the leading global technology companies focused on the development of software and SaaS solutions. It is widely used by analysts and investors as the principal global benchmark for assessing the market valuation, multiples, and share-price behavior of software companies. ● Inflation in costs and expenses: operating costs and expenses can be influenced by inflation. As a Technology company, the main line is Personnel. Employees' salary bases are readjusted through the negotiation process between workers' unions and companies. This adjustment is generally annual and aims to compensate for the loss of purchasing power caused by inflation. Therefore, the variation of the IPCA and/or INPC over the last 12 months is used as the basis for this negotiation. Each region in which the Company operates is associated with a specific union in the sector and has adjustment anniversaries on different dates, the most relevant being listed below according to the concentration of number of employees: (i) São Paulo readjusted in January; (ii) Belo Horizonte and Rio de Janeiro readjusted in September; (iii) Joinville readjusted in October; and (iv) Santa Catarina in August. ● Inflation in revenue: the Company periodically adjusts the prices of its products and services, aiming at business sustainability and monitoring market variations. The price list is regularly reviewed and the vast majority of Recurring Revenue contracts provide for automatic annual adjustments, taking into account several factors, the main one being inflation. In the case of the Management , approximately 80% of the Recurring Revenue base is automatically renewed each year and its values are readjusted according to the accumulated inflation of the last 12 months, calculated on the contract anniversary. If inflation is negative, the value of the contract is not reduced. The inflation indices most used for these adjustments are the IGP-M and the IPCA, and the new contracts, by default, are linked to the IPCA, causing this index to increase its representation over time. The other approximately 20% of the company's recurring revenue contracts are adjusted annually by a performance mechanism, with the corporate model being the most common and also the Intera Unlimited model which has been gaining representation. Finally, there are less than 5% of contracts that do not have automatic renewal and depend on commercial negotiation at each renewal. In the case of the RD Station , most annual adjustments to current contracts also occur on the anniversary of the contracts and take into account the last update of the price table. This table can be updated more than once a year and normally takes into account the inflation of the period (generally IPCA), added to other market effects, such as the price charged by competitors. ● INPC (National Consumer Price Index): a Brazilian inflation index that, like the IPCA, measures the price variation of a selection of goods and services consumed by Brazilian families. However, the major difference between the two is the target audience. The INPC monitors the price variation for families with an income of This document is a TOTVS property. All rights reserved ©
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27 up to 5 minimum wages. The IPCA monitors the price variation for families with an income of up to 40 minimum wages. ● Interest on Equity: is a form of remuneration paid to the partners or shareholders of a company, calculated on the value of the equity. This remuneration is considered an expense for the company, which means it can be deducted from the net income before calculating the Corporate Income Tax (IRPJ) and the Social Contribution on Net Income (CSLL), thus reducing the company's tax burden while distributing dividends to shareholders. It is worth noting that the payment of Interest on Equity is limited to the lower value among: (i) 50% of the net income for the fiscal year; (ii) 50% of retained earnings and profit reserves; and (iii) the variation of the Long-Term Interest Rate (TJLP) on the equity. ● Intera Model: TOTVS’ commercial contracting model based on modular monthly subscription packages, designed to make adoption of the solutions portfolio more flexible. The structure comprises Intera Padrão (core management package), which can be expanded with Intera Financeiro (advanced financial management and Techfin, +40% over the base price), Intera RH (comprehensive people management and HXM tools, +65% over the base price), and Intera Marketing Contínuo (integrated CRM, automation, and relationship solutions, +65% over the base price). There is also Intera 360 (a unified offering with all modules, +100% over the base price), with specific consumption items billed separately. ● IPCA (Broad National Consumer Price Index): a Brazilian inflation index that measures the average variation of prices paid by urban consumers for goods and services that Brazilians consume on a daily basis, such as food, rent, transportation, etc. Comparable to the American CPI (Consumer Price Index), this indicator holds significant influence over key decisions in Brazil, particularly in determining the interest rate by the Central Bank. [L] ● Large Language Models (LLM): deep neural networks trained on vast volumes of textual data to understand, generate, and process natural language. In the B2B environment, they are applied on an agnostic or proprietary basis to automate workflows, analyze data, and optimize the user experience. ● Lei do Bem: Law 11.196/05, popularly known as Lei do Bem, was created to stimulate and encourage Brazilian companies to invest in Research, Development and Innovation (R&D). This law offers several tax benefits to companies that carry out R&D activities, aiming to boost innovation and competitiveness in the private sector in Brazil. In the case of TOTVS, the main benefit is the reduction of Income Tax (IRPJ) and Social Contribution on Net Income (CSLL) obtained through the deduction of a portion of R&D expenses from the calculation basis of these taxes, thus reducing its tax burden. ● LGDP: is the Brazilian Law 13.709/2018, called the Brazilian General Data Protection Law. ● LTV (Life Time Value): it is a metric that defines the average value of the customer's life cycle. It represents the financial resources acquired by the company through customer purchases and services over the duration of their relationship with the company. ● LTM (Last Twelve Months): sum of the last twelve months. ● Logo Churn: business metric that measures the percentage rate of customers (or "logos") who have canceled their contracts or stopped using a company's services within a specific period. Unlike Revenue Churn, which focuses on the financial impact (lost revenue), Logo Churn strictly quantifies the number of customers lost. This is a crucial metric for assessing customer retention, especially in subscription-based companies (such as SaaS), indicating the organization's ability to maintain its active customer base. This document is a TOTVS property. All rights reserved ©
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28 ● LYNN: first B2B Artificial Intelligence foundation in Brazil, launched by TOTVS, being a proprietary and specific-purpose AI based on the Artificial Narrow Intelligence (ANI) concept. Its specialization and domain expertise will provide customers with higher accuracy, performance, governance, and data security, alongside lower costs—which TOTVS believes is the path for corporate AI adoption, particularly within the SMB segment. LYNN leverages the Company's structural assets, such as its customer base, functional expertise in management software, control over the System of Record, and its distribution platform. It honors the Theory of Endosymbiosis, created by scientist Lynn Margulis. She challenged the dogma that evolution occurred solely through competition ("survival of the fittest") by proving that life’s greatest leaps on Earth happened through cooperation. Thus, complex cells emerged from simple organisms that fused together, one providing energy and the other protection, creating a new entity more capable and powerful than the sum of its parts. This is exactly the same concept we see at TOTVS, where HI + AI (Human Intelligence + Artificial Intelligence) is more capable and powerful. It is where the union of specialization brought by ANI generates significantly better results. [M] ● Management: a segment of TOTVS' business focused on business management solutions, which includes the offer of ERPs and other software for business management. ● Marketing Contínuo : A client management strategy that integrates back-office and ERP data with CRM and sales automation systems in real time. Supported by AI, the concept replaces one-off campaigns with a constant flow of automated, predictive actions across every touchpoint of the client lifecycle. [N] ● NPS (Net Promoter Score): is a measure obtained from customer surveys to evaluate the likelihood of recommending the company, product, or service. ● Net ARR Addition: A financial metric that measures the net growth of ARR. The calculation takes the new contracts signed (Gross Volume Addition) plus sales expansions within the client base (cross-sell and up-sell), minus losses from contract cancellations (churn) and scope reductions (downsell). [P] ● Payroll Exemption: It is a measure that aims to reduce companies' labor costs, replacing the social security contribution on the payroll with a contribution on gross revenue. In other words, instead of paying a percentage of each employee's salary, the company pays a percentage of the total value of its sales. Currently, TOTVS uses, in most of its operations, the benefit of payroll exemption, replacing the 20% rate on INSS (Social Security tax) on payroll for a rate of 4.5% of Social Security Contribution on Gross Revenue (CPRB). ● PLG (Product-Led Growth): is described as a scenario where the product's usage is the major factor driving users' acquisition, retention, and expansion. Thus, PLG can be considered both a growth strategy and an innovative business model. It is a growth model focused on the end user, based entirely on the product. This document is a TOTVS property. All rights reserved ©
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29 ● Price ARR Addition: Represents the average value earned per contract or client. It is affected by list-price increases, inflation adjustments, or the sale of higher value-added packages (such as migration to the Intera model). [R] ● RD Station: a division of TOTVS that offers solutions for enhancing business performance, such as digital marketing, customer management, and automation tools. ● Retention Rate: represents the percentage of clients that remained in the recurring base at the end of the period, compared with the base at the beginning of the period, using the Recurring Revenue as a reference. ● Revenue Net of funding cost: a structure usually adopted by the financial market, which makes up the revenue net of the cost formed by the remuneration of the FIDC's senior and mezzanine shares. [S] ● SaaSpocalypse: (a portmanteau of SaaS, Software as a Service, and Apocalypse) an informal market term describing the sharp crisis, valuation reset, and slowdown experienced by subscription-based software companies. ● Selic (Special Settlement and Custody System): it is the basic interest rate of the Brazilian economy. It is the major monetary policy metric used by the Brazilian Central Bank (BC) to control inflation. ● SMB (Small and Medium-sized Businesses): the segment of small and medium-sized companies that is highly relevant to the economy and demands integrated, efficient, and quickly deployable management solutions. [T] ● Take rate: it is a metric that represents the percentage of a transaction's value retained by a platform or intermediary as revenue. This concept is commonly used in marketplaces, fintechs, e-commerce, and online service platforms business models, where the company acts as an intermediary between sellers and buyers. ● TaaS: Usage-based billing model driven by task volume executed via AI agents. ● TAM (Total Addressable Market): a metric representing the total revenue opportunity available for a product or service. It is used to gauge the potential for expansion and growth over a given period. ● TCO (Total Cost of Ownership): it denotes the sum of all possible costs related to the purchase and possession of a product or service. ● Techfin: TOTVS' financial services division, responsible for providing credit and financing solutions to customers, which is seamlessly incorporated into the company's management systems. ● TIT ( TOTVS Inteligência Tributária - TOTVS Tax Intelligence): A cloud-native solution seamlessly integrated into the Company's portfolio, developed to simulate, plan, and automate operational, financial, and logistical impacts from the Tax Reform. The platform enables strategic scenario modeling for pricing, resource allocation, and continuous regulatory compliance, supporting decision-making throughout the transition and consolidation of the new tax system This document is a TOTVS property. All rights reserved ©
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30 ● TPV (Total Payment Volume): is the total value of transactions processed by a particular company, payment platform, or financial institution. ● Trusted Advisor: a strategic concept defining the market positioning in which TOTVS acts beyond a mere technology provider, serving also as a trusted advisor and long-term business partner to its clients. This approach deepens the understanding of each market segment's pain points and operational processes, enabling it to steer decisions on efficiency, revenue expansion, and the integration of financial services. [U] ● Unlimited Intera Model: This model is similar to the corporate model, differing only in the anniversary of the adjustment, which is made on the anniversary of the contract and not in the first quarter and the fact that it only affects Recurring Revenue. [V] ● Vibe Coding: a programming approach in which the professional codes the desired features in natural language so that LLM-based agents handle the coding, testing, and technical refinement of the requested solution. [W] ● WACC (Weighted Average Cost of Capital): the rate that calculates a company's financing cost, proportionally weighting the cost of equity and the cost of debt. It is frequently used as the discount rate in financial valuation models. [Y] ● YTD (Year to Date): Refers to the accumulated value of a given indicator from the year up to the reporting date. This document is a TOTVS property. All rights reserved ©